Already out of the elite group last July, Paragua, 22, saw his 2607 rating dip even further to 2599 this month.
Paragua barged into the top 100 early this year to become the first Filipino to do so since Eugene Torre accomplished the feat in the early 90s.
Torre, 55, for his part, gained nine points to improve from No. 3 with a 2543 rating to No. 2 with a 2552.
The region’s first ever GM was two points better than fellow GM Joey Antonio, who was idle the last quarter with a 2550.
There was also no movement from fourth to seventh places as GM Rogelio Barcenilla Jr. (2503) and International Masters Joseph Sanchez (2478), Oliver Dimakiling (2464) and Idelfonso Datu (2457) kept their spots.
The biggest gainer in the quarter was Darwin Laylo, earning 14 points to improve from 2428 to 2442 to catch IM Yves Ranola at No. 8.
Laylo, 26, recently topped the national qualifier to gain the right to represent the country in the 2006 Doha Asian Games slated Dec. 1-15. Laylo will be joined by long-time buddy Ronald Dableo in the quadrennial event.
IM Richard Bitoon was also idle at No. 10 with 2438.
Rounding up the top 20 were GM Nelson Mariano (2437), IM Enrique Paciencia (2432), GM Bong Villamayor (2430), IM Roland Salvador (2427), IM Jayson Gonzales (2426), Dableo (2422), IM Rico Mascarinas (2416), Oliver Barbosa (2414), IM Petronio Roca (2408) and FIDE Master Fernie Donguines (2401).